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EarningsQ2 2026 Earnings Report

Citizens Financial (CFG) Q2 2026 Earnings Report

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Previous Report: Q1 2026

CFG Q2 2026 EPS Results

Actual EPS$1.30

Consensus EPS$1.24

Beat/MissBeat by +$0.06

One Year Ago EPS$0.92

CFG Q2 2026 Revenue Results

Actual Revenue$3.16B

Expected Revenue$2.25B

Beat/MissBeat by +$906.08M

YoY Revenue Growth+3.30%

Earnings Announcement Details

QuarterQ2 2026

Date07/16/2026

TimeBefore Open

Conference CallThursday, July 16, 2026

CFG Upcoming Earnings

Citizens Financial's next earnings date is estimated for October 16, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

CFG Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 16, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized a strong quarter with record revenue, solid EPS and ROTCE improvement, broad loan growth, a record capital markets quarter, an accelerating private bank and robust shareholder returns. Management reiterated disciplined expense control and clear medium-term operational initiatives (RTB and NEXT) with quantified benefits. Lowlights were mostly moderate and largely transitory: slight deposit cost pressure, modest FHLB usage, ongoing CRE runoff timing, a small CET1 shortfall versus a 10.5% anchor, and some upfront transformation costs. On balance, positive operational momentum and sizeable near- and medium-term catalysts outweigh the manageable and largely temporary headwinds.

Company Guidance

The company guided to third‑quarter net interest income growth of 2.5%–3.5% (driven by continued NIM expansion and earning asset growth), non‑interest income up roughly 1% (led by capital markets and wealth), expenses “stable to up slightly,” and charge‑offs “stable to down slightly,” and said it expects to end Q3 with CET1 of ~10.5% (assuming ~$125M of share repurchases). For the full year management said revenue is tracking above January guidance, they remain on track for >600 bps of positive operating leverage, and reiterated the medium‑term 16%–18% ROTCE target by end‑2027 (with efficiency improving from 61% this quarter toward a mid‑50s target). NIM has expanded ~10 bps in H1 and management expects 4Q‑26 NIM of 3.22%–3.27% and 4Q‑27 NIM of ~3.30%–3.50%; Reimagine the Bank is expected to deliver ~$100M pretax annualized benefit exiting 2026 (doubling in 2027 and reaching ~$450M exiting 2028).

Strong EPS and ROTCE Improvement

EPS of $1.30 for Q2, up $0.17 (15%) sequentially and up 41% year-over-year; ROTCE improved to 13.9% from 12.2% in Q1, reflecting improving profitability and capital efficiency.

Record Revenue and Positive Operating Leverage

Company reported record revenue for the quarter with positive operating leverage of ~4% sequentially and ~6.4% year-over-year; management noted >600 basis points of positive operating leverage year-over-year for the full year trajectory.

Net Interest Income and NIM Expansion

Net interest income (NII) rose 4.4% sequentially and ~14% year-over-year; net interest margin (NIM) expanded +3 basis points sequentially and +10 basis points in the first half of 2026, with guidance for continued NIM improvement (4Q26 NIM target 3.22%–3.27%).

Fee Revenue and Capital Markets Momentum

Fee revenues increased 8% sequentially and 9% year-over-year. Capital markets delivered a second-quarter record: fees up 14% vs Q1 and up 46% year-over-year, driven by loan syndications, bond underwriting, and growing M&A pipeline.

Wealth and Private Bank Milestones

Wealth delivered an all-time high quarter (wealth fees +16% year-over-year); Private Bank spot deposits reached $17.8 billion, period-end loans $9.7 billion, client assets $11.2 billion, private bank contribution of $0.15 EPS (11.5% of EPS) and ~25% ROE for the business.

Loan Growth Across Businesses

Average loans +2% sequentially and period-end loans +3% (spot commercial loans ex-private bank +2% linked quarter). Broad-based C&I growth, retail loan growth ex-non-core ~$800 million spot, and private bank loans increased $1.9 billion in the quarter.

Disciplined Expense Management

Expenses rose only ~1% sequentially; efficiency ratio improved to 61% in Q2 while still investing in incentive comp tied to revenue; implementation costs for Reimagine the Bank were modest (~$7 million in Q2).

Credit Metrics Trending Favorably

Net charge-offs improved to 37 basis points (from 39 bps prior quarter), non-accrual loans down 4% sequentially, allowance-to-loans coverage stable with ACL coverage ratio at 1.48%; Fed DFAST projected credit loss result ranked third-best among regional peers.

Strong Capital, Liquidity and Shareholder Returns

CET1 ended Q2 at 10.4%; returned ~$422 million to shareholders in Q2 ($197M dividends, $225M buybacks) and $920 million YTD; executed $225M buybacks in the quarter and plans ~$125M of repurchases in Q3.

Operational Initiatives and Medium-Term Targets

Reimagine the Bank (RTB) progressing: expect ~$100M annualized pretax benefit by exit 2026, doubling in 2027 and ~ $450M by exit 2028. NEXT branch initiative to optimize network (target ~100–120 in-store branch eliminations, add specialist branches) and path to 16%–18% ROTCE by end of 2027.

CFG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 16, 2026	2026 (Q3)	1.40 / -	1.05	―
Jul 16, 2026	2026 (Q2)	1.24 / 1.30	0.92	41.30% (+0.38)
Apr 16, 2026	2026 (Q1)	1.09 / 1.13	0.77	46.75% (+0.36)
Jan 21, 2026	2025 (Q4)	1.10 / 1.13	0.83	36.14% (+0.30)
Oct 15, 2025	2025 (Q3)	1.03 / 1.05	0.77	36.36% (+0.28)
Jul 17, 2025	2025 (Q2)	0.88 / 0.92	0.78	17.95% (+0.14)
Apr 16, 2025	2025 (Q1)	0.75 / 0.77	0.65	18.46% (+0.12)
Jan 17, 2025	2024 (Q4)	0.82 / 0.83	0.34	144.12% (+0.49)
Oct 16, 2024	2024 (Q3)	0.79 / 0.77	0.85	-9.41% (-0.08)
Jul 17, 2024	2024 (Q2)	0.78 / 0.78	0.92	-15.22% (-0.14)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed